Bar&Bench News Network
AZB’s Mumbai based Telecom partner, Abhijit Joshi advised Matrix Partners India Investments in acquiring a 15 percent stake in Bhartiya Samruddhi Finance Limited (BSFL) worth Rs. 100 crore ($ 22 million). Netherlands-based Hivos Triodos Fonds and Lok Capital have invested Rs. 12.7 crore ($2.78 million) and Rs. 5.5 crore ($1.22 million) respectively.
Sources inform us that Universal Legal advised BSFL on the transaction. Microfinance is turning out to be a promising practice area. Reports indicate that BSFL is intending to issue Non Convertible debentures worth Rs. 75 crore ($16.68 million) in the next month or so, and has tentatively planned an IPO in the next two years.
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